LOUISIANAAGENT
PRIVATE INSURER TO ASSUME POLICIES FROM INSURANCE COMPANIES IN RECEIVERSHIP A Louisiana licensed insurer plans to acquire all policies from Access Home Insurance Co.and State National Fire Insurance Co., two insolvent homeowners insurance companies that were placed into receivership in November by the Louisiana Department of Insurance (LDI), Insurance Commissioner Jim Donelon announced. The takeover means that an estimated 30,000 Access Home and State National Fire customers will be able to avoid the task of finding other suitable insurance and perhaps turning to the Louisiana Citizens Property Insurance Corp., the state-sponsored insurer of last resort, to find coverage. Insurance Commissioner Jim Donelon approved the transaction today. The deal now heads to the 19th Judicial District Court for approval with a goal of finalizing the plan before the end of the year. LDI is unable to disclose the identity of the acquiring insurer until both parties agree on terms and appropriate court approvals are obtained.
LA Department of Insurance News Release December 15, 2021
